Bitcoins already take too long to transfer.
Over the internet, the delay is usually fine, because it is quicker than any other way. At point of sale transactions, other hard money alternatives are better suited. Don't buy your cup of coffee with virtual bitcoin, use a 1/10 ozt silver piece bitcoin specie. (coming soon) |
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requires technology True, but the needed technology is everywhere. It's like saying gold is bad because humans using it need air to breathe. Not a problem when you are surrounded by air. Not yet, but someday. When the technology is as common as clean air, there may be less clean air. |
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A diversified stash is best - because we just don't know what the future holds.
Gold, bitcoin, cash - there are scenarios where any one of these could be rendered useless
and possibly 2 of them. Very unlikely all 3 at the same time though.
Yes. Bits and Atoms. One is transcendent, ephemeral, virtual, the other tangible, solid, eternal. To say one is better is like saying energy is better than matter. Throw cash into the mix, only if you need legal tender, something folks are forced by law to accept. |
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Send your "dirty" BTC to a non US based exchange, buy LTC/PPC/XPM/whatevercoin, send you whatevercoins to an other exchange, sell it for BTC, withdraw you shiny clean BTC, then Mike, the Foundation, and the Land of the Free can roll up their lists tightly and use it as the most convenient for them  . What about the poor fellow who buys them from the exchange? |
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I have just seen an ad of WU: "Send money around the globe for 0 cost" In small letters: "WU makes profit via conversion fees".  Though they do need to make money for having their shops available, i wonder how good it would be if they had BTC ATM's in there and use the same fee amount as the one in vancouver. When WU does *anything* with bitcoin, I cover my WU short sale. Until then, that stock is a dog, and the dog has fleas, and the fleas have ghonorrhea. |
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If you want fast coins, (which in a rising market are more important than anything), and if you have access to North American Banks, try Bitcoin-Brokers.com
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I hate to burst everyone's bubble ...
The Federal Reserve was created in 1913 to manage the U.S. money supply, and at this time, the U.S. was on a gold standard. Fractional reserve banking will make it possible for the Federal Reserve to manage the bitcoin money supply (with possibly limited success), but not in the way the author suggested.
I predict that the Federal Reserve will be managing the bitcoin money supply within 10 years.
That would be the biggest fail of bitcoin so I will personally make sure that this will never happen. I think you're all misreading what "managing" means. The fed doesn't have to buy all the bitcoins, or process transactions to "manage" the supply. The fed will just need to decide what tools they have available. They could issue bitcoin bonds the same way they issue dollar bonds, cuz what's the fricken difference? Just one random thought, but to say the fed is managing the bitcoin supply in 10 years shouldn't be written off as quickly as all the replies here have done. I believe it's a longer discussion. Or a shorter one. That isn't Bitcoin. Make an altcoin |
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This is poetically delightful.
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A very hostile country with very aggressive foreign policy and a straight up stupid monetary policy which transfers the wealth further to the monopolists.
The spying on your allies didn't exactly get you alot of positive PR. The 25+ wars you have started the last 50 years didn't help alot either and your countrys kill count is slowly, but steadily cathing up on Germany in the Hitler era.
Yes, the military industry is out of control. There are more than 40 wars in active conflict right now, around the world. http://en.wikipedia.org/wiki/List_of_ongoing_armed_conflictsMost are ethnic / religious, US tends to come along after and take the blame (from both sides) for either being too late, or for getting involved at all. Often both simultaneously. One thing the US is great at, Ranked #1 in blame garnering, people like to hate it. This is one thing that bitcoin, and hard currency in general, tends to help prevent. Even Lincoln couldn't wage war without making a new fiat (greenbacks). Napolean was the exception that proves the rule, and operated within the limits of hard money, but it cost him. |
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Best exchange? NYSE
For bitcoin? Nothing is perfect.
CoinMKT has easy setup, not a lot of volume yet. Lots of Altcoin to park your money when out of BTC.
BTC-E has pretty cheap coins, buy and transfer them elsewhere.
BTC China has very expensive coins, hard to get fiat out.
MTGOX, hard to get out, some difficult processes.
Bitstamp is a pretty good blend of problems, none of which are too serious.
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... If you work for a corporation, your choices are going to be different to the guy running black markets and doing p2p trades. You just both value different feature sets and the software optimised in a different way. From this article: https://letstalkbitcoin.com/the-regulation-of-bitcoin/The corporation may well have much stronger privacy concerns than the black market, and can afford to push the legislature to preserve it. They may have less to hide, but they probably have much more to protect. Visibility into the quantity of trade and the particular business partners, or even their locations, can cost a large corporation billions in competitive losses. |
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good morning!~ you going to the OC meeting tonight in Fullerton?  *blessed! Very likely. I have gone much further for much less. |
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Oh boy, China is awakening and if Gox breaks through the $700 barrier, we will be getting VERY close to confirming no dead cat bounce.
Very interesting to see what happens here. Wall is building at $700 so I do not think this is going to be easy. How quickly we move through this resistance will let us ALOT about where and how fast we are going.
 Back to the trend line... carry on. |
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There is a big discussion on what bitcoin really is - is it money, is it commodity or maybe a security? But technically paying a bitcoin is a service you do - it is signing a transaction with your private key.
How does that square with the legalities?
That sounds odd. Is signing a check a service in your jurisdiction? |
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I just recently bought 4.5 bitcoins via Bitcoin Brokers and thought it appropriate to leave a review of my experience.
Almost immediately after I sent in a support ticket I got an answer with sellers meeting my requirements. After I had deposited the money and scanned the receipts/bank teller card, it took 4 hours for the bitcoins to be released to me.
The fees, in total, ended up being 5% on top of Mt. Gox ($593.65 per bitcoin in the end) which, to me, is a very competitive price at the time I bought it (almost no difference between Stamp and Gox) considering this was all done anonymously.
I highly recommend this service to anyone if you don't want the government knowing when you buy bitcoin and you want it in less than 24 hours.
Couldn't agree more. The premium on speed and service is so very worth it in today's market. By the time you send money to an exchange, and they receive it to your book for trading, and then you execute your trade, the price might have doubled. If you want coins today, this is the best way. |
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I hadn't see Help's correction, I wouldn't have corrected it except it was a correction of a correction. Casual use is one thing but definition should be accurate in clarifications.
I don't consider client side use of encryption in one or more clients to mean Bitcoin (which is a protocol) uses encryption. The QT client certainly optionally supports encryption but I would be fine with stating on public record that Bitcoin does not use encryption.
I do agree with you it was a wasted opportunity to correct the senate and get the proper definition on record. More important than the misuse of word encryption is the longer context. The senator said "hiding by encryption" which means it was more than just a wrong word. The blockchain is the exact opposite of hiding. It is a public record by definition. It is closed private ledgers (like PayPal for example) that are hidden from public view. A horrible waste of an opportunity to get a solid good high level view out in the open and on TV as well.
Yes, maybe a blunt and unqualified "there is no encryption in the Bitcoin protocol" possibly may have shocked him into asking the right questions and learning the legally important aspects, which he never received from his panel of experts. Well the hearing is not "closed" for a couple weeks, so maybe they will read what you wrote up there and get it in the record yet... |
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so it is incorrect to say "there is no encryption in the Bitcoin protocol". Encryption in the form of hashes, is frequently used in digital forensics to irrefutably verify a dataset as unchanged. Hashing isn't encryption. Hashing, digital signatures, and encryption are all forms of cryptography. All hashing involves cryptography. Not all cryptography involves hashing. All encryption involves cryptography. Not all cryptography involves encryption. All digital signatures involve cryptography. Not all cryptography involves digital signatures. Your correction of my correct seems to confusing cryptopgraphy with encryption. yes, I wrote it properly in one sentence and improperly in another, and accepted Help's correction of this already as well.  I think we all understand the issue, and the definitions, and I thank you for your second correction. I only wish our senate had the benefit of such honest critiques. I like that no one here lets me get away with any sloppy language also. It is the kind of protection that I most appreciate, the protection from being inadvertently confusing and being wrong (because together we find what is right). We all understand that the only encryption in bitcoin is wallet side (and optional) and therefore that many folks are fond of saying that there isn't any encryption at all. |
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It seems that there is a sale on Precious Metals currently... I'm putting in some bullion buys to take advantage.  |
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If you are in Europe, you are in luck. BitGild.com, the premier European gold and silver dealer for Bitcoin, located in the Netherlands, who have been doing very well by getting the Bitcoin Specie into the hands and pockets of the people of Europe have managed to move swiftly and scooped up some of the low numbers of the FIRST YEAR OF ISSUE collectibles. If you move fast, you may be able to get one, but you should certainly get your Silver Bitcoin Specie there as you will certainly save on the shipping from the US and get them much quicker. Wow, that is fantastic, I feel like a little kid. The first thing I've ever bought with Bitcoin (off my phone!) are some of your specie. Woohoo!! Gonna be Xmas presents for my nieces and nephews. Totally brilliant, and very easy to do. Made up (as we say in the UK) Be sure to show them off in London at the end of the month if you can make it over there for the con. You will be very popular. In fact, the QR pricing is designed so that anyone can benefit as a distributor. Even if you buy just 10, you get a better price per than buying 1, so if get any decent quantity, you can make a few bitcoin for yourself when you meet up with other folks that can appreciate them. |
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